Seven bank accounts linked to Independent TV CEO Shamsur frozen.

A Dhaka court on Monday ordered the freezing of seven bank accounts belonging to M Shamsur Rahman, chief executive officer and editor of Independent Television, and entities associated with his interests over allegations of acquiring wealth beyond known sources of income and laundering money abroad.

Dhaka Metropolitan Senior Special Judge Md Shahjahan Kabir issued the order following a petition filed by the Anti-Corruption Commission (ACC), said ACC Public Relations Officer Tanzir Ahmed.

According to the ACC petition, an investigation is underway into allegations of stock market manipulation and financial fraud involving Salman F Rahman, former adviser to the ousted prime minister on private industry and investment and chairman of Beximco Group, along with others.

The allegations include siphoning off thousands of crores of taka from shareholders through placement share manipulation and fraud, obtaining and misappropriating around Tk36,000 crore in loans from various public and private banks by abusing influence, and transferring large sums of money abroad illegally.

The allegations against M Shamsur Rahman involving the accumulation of assets beyond known sources of income and money laundering were subsequently brought under the scope of the investigation.

During the inquiry, the ACC identified seven bank accounts linked to Shamsur Rahman and entities associated with him at City Bank, IFIC Bank, Meghna Bank, Premier Bank and Standard Chartered Bank, the petition stated.

The ACC further said it had received credible information that the account holders were attempting to withdraw, transfer or otherwise move the funds.

It argued that freezing the accounts was necessary to prevent the dissipation of funds and ensure a fair investigation and the proper administration of justice.